At this time the Indian cyber premium pool is expanding rapidly —...
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Insurance Amendment Bill,2025:Balancing innovation,capital inflows and policyholder protection
Nirmala Sitharaman,Finance minister Taken together,the Bill, that...
Transformational moment, PM Modi on Parliament nod to SHANTI Bill
The Bill introduces an elaborate framework on duties and...
Tougher US sanctions to curb Russian oil supply to China and India
Sanctions on Russian oil insurers will prompt Russia to price its crude below $60 a barrel so Moscow can continue to use Western insurance and tankers Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and...
New U.S. sanctions against Russian energy interests
Two Russia-based maritime insurance providers: Ingosstrakh Insurance Company and Alfastrakhovanie Group, both previously sanctioned by the UK and 69 vessels owned by Sovcomflot, including 54 oil and product tankers and four liquefied natural gas (LNG) tankers have...
IRDAI further strengthens regulatory framework, notifies 5 more regulations/amendments
These changes align with IRDAI’s broader move towards a modern, dynamic and principle-based efficient regulatory framework, said the IRDAI. Hyderabad: As a part of the comprehensive review of regulatory framework to maintain an agile, progressive, and forward-looking...
South Korea jet crash puts fast-growing Jeju Air’s safety under scrutiny
Authorities have suggested a bird strike contributed to the accident, but as part of their probe into the incident aboard Boeing 737-800, police have raided the airlines’ Seoul office to seize documents related to the operation and maintenance of the plane Before it...
Los Angeles fire to cause about $20 billion of insured losses, unlikely to trigger major losses for cat bonds
The fires sweeping across Los Angeles are now on track to cause about $20 billion of insured losses, according to an estimate by analysts at JPMorgan Chase & Co. That’s twice as much as the Wall Street bank had predicted just 24 hours earlier as analysts try to...
McGill offers property war reinsurance for Ukraine
McGill said it had collaborated with local Ukrainian insurer ARX to provide up to $50 million in cover for each commercial property policy, with reinsurance from companies in London, including Lloyd’s of London syndicates Broker McGill and Partners has launched a...
Los Angeles wildfire economic loss estimates top $50 bln
J.P. Morgan believes that insured losses originating from the wildfire could be around $10 billion, "We expect a majority of the losses to be related to homeowners' coverage and a significantly lesser amount to commercial," it said U.S. private forecaster AccuWeather...
Global natural disasters cause $ 320 bn of economic losses, $140 bn of insurance claims in 2024 : Munich Re
Weather catastrophes were responsible for 93% of overall losses and 97% of insured losses. Around 11,000 people lost their lives as a result of natural disasters in 2024 – significantly fewer than the average. Non-peak perils are increasingly fuelling the trend of...
DPDP Act 2023: Insuring fines and penalties
While clarity on insurability of DPDP Act fines from an enforcement standpoint remains to be witnessed, insurance providers can play a vital role in managing risks and supporting businesses in their efforts to comply with data protection regulations The recently...
Frame policy on cashless treatment for motor accident victims by Mar 14 : SC to Centre
``We direct the Central government to make a scheme in terms of sub-section (2) of Section 162 of the MV Act as expeditiously as possible and, in any event, by March 14, 2025. No further time shall be granted, it ordered. said the Supreme Court NEW DELHI: In a...